One of the greatest gifts you can give
to your family is
pre- planning your
Medicaid/SSI Spend Down Guidelines
Since 1981 our staff has been assisting families across America. When applying for DSHS assistance (Nursing Home Care) all funds placed in our Irrevocable plan does not count as an asset against you. Many individuals may have more then $2,000.00 in cash assets when applying for Medicaid assistance (DSHS). If the excess funds over $2,000.00 are placed with our irrevocable trust this excess is protected to pay for final expenses in the future. (Protection for the client and their families.)
Transfer of Asset Rule
Medicaid regulations restrict an applicant or recipient from transferring, giving away, or assigning assets in"Planning ahead will save you thousands of dollars and give your family peace of mind!" order to become eligible for benefits, The value of the transfer will be counted as a resource and may result in a period of ineligibility.
The use of an irrevocable assignment of policy ownership allows the transfer because there is adequate consideration. Adequate consideration is a legal concept requiring the applicant or recipient to receive something of equal value for the property transferred or assigned.
With Purple Cross Final Expense Plans the Medicaid/SSI applicant or recipient receives something of value by preplanning with Purple Cross in return for the irrevocable assignment of the ownership of the life insurance policy.
At Purple Cross we pride ourselves in helping you. Our professional staff has reviewed the departments of health and social services in most states, as well as the Health Care Financing Administration (HCFA), and the Social Security Administration (SSA) in connection with determining how our products affect eligibility for Medicaid/SSI benefits. We have helped thousands of families that have contacted our offices looking for solutions.
In general, your state provides that the value of the prearranged final expense agreement and the life insurance policy are excluded as a countable resource in determining eligibility if an irrevocable assignment of policy ownership has been executed.
When you contact our office our staff will provide you with detailed information and answer all your questions. There are no fees and our assistance to you is free. Call: 1-800-883-5090
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Whole life insurance and annuities may not be available in all areas.